Company strengthens management team in anticipation of the potential commercial launch of VP-102, if approved
WEST CHESTER, PA – July 9, 2021 (GLOBE NEWSWIRE) – Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced the appointment of Terry Kohler as Chief Financial Officer. Mr. Kohler is a strategic and operational finance leader with over 20 years of commercial business experience, most recently at a global pharmaceutical company with annual revenues over $2 billion. Mr. Kohler is replacing Brian Davis, who is leaving Verrica to pursue other opportunities.
“Terry’s extensive commercial finance experience across the pharmaceutical product development landscape, including buy and bill business model, as well as his commercial acumen across all classes of trade, will support our commercial preparations for the potential launch of VP-102 this fall,” said Ted White, Verrica’s President and Chief Executive Officer. “We are pleased to welcome Terry to our team and look forward to leveraging his expertise. On behalf of the company and the Board, I thank Brian for his dedicated service to Verrica and wish him well.”
“I am thrilled to join Verrica and oversee commercial financial strategy to advance Verrica’s medical dermatology product portfolio,” said Mr. Kohler. “I look forward to working with Verrica’s Chief Commercial Officer and senior management to bring Verrica’s proprietary treatments to medical providers and patients.”
Prior to joining Verrica, Mr. Kohler served as Vice President, Corporate Development and Treasurer and Vice President, U.S. Branded and Specialty Pharmaceuticals at Endo International PLC, a publicly traded global specialty pharmaceutical company focused on branded, sterile and generic pharmaceuticals with annual revenues over $2 billion and locations in the United States, Ireland, India and Canada. Previously, Mr. Kohler served as a senior professional with a middle market investment banking firm, and also held various roles at Johnson & Johnson. Mr. Kohler holds a B.A. in International Business and Management from Dickinson College and an M.B.A. in Finance & Entrepreneurship from the University of North Carolina. He is a Certified Management Accountant.
About Verrica Pharmaceuticals Inc.
Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s late-stage product candidate, VP-102, is in development to treat molluscum, common warts and external genital warts, three of the largest unmet needs in medical dermatology. Verrica is also developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. The Company has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize LTX-315 for dermatologic oncology conditions. For more information, visit www.verrica.com.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include expectations regarding the potential approval and commercial launch of VP-102 for the treatment of molluscum and the clinical development of VP-102 for additional indications. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the drug development process and the regulatory approval process, Verrica’s reliance on third parties over which it may not always have full control, and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the U.S. Securities and Exchange Commission on March 17, 2021, and other filings Verrica makes with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.